10230 Collins Ave #203 · Bal Harbour, FL 33154

$325,000

1 bd · 1.0 ba · 900 sqft · Condo public records · 63 Days on market

Built 1974 $558/mo HOA · 12% of rent

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +26.3/30.0
• 1% rule +9.2/10.0
• DSCR +8.9/10.0
• Appreciation +8.1/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0

Listing remarks

Experience refined living in this beautifully maintained 1-bedroom, 1-bathroom apartment, ideally situated in the heart of Bal Harbour. Offering the added advantage of low maintenance fees, this inviting apartment features a spacious living area and a generously proportioned bedroom designed for comfort and relaxation. The kitchen is fully equipped with modern finishes, making it perfectly suited for both everyday living and effortless entertaining. Additional conveniences include an in-unit washer and dryer for added ease and functionality. Enjoy an exceptional lifestyle just moments from the renowned Bal Harbour Shops, pristine beaches, upscale dining, and nearby houses of worship—a

Key facts

• Spacious living area
• $558 HOA
• Parking

Tags

• SPACIOUS LIVING AREA
• IN-UNIT WASHER AND DRYER
• WALKING DISTANCE TO BEACHES

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Monthly association fee; Association fee includes: association management, common areas, laundry, grounds maintenance, structure maintenance, parking, pest control, sewer, trash, water; Association amenities: laundry, storage, trash service, elevator(s)

Exterior

• Parking: Covered underground parking (one space)
• Security: Smoke detector(s)
• Utilities: Cable not available
• Home design: Property is attached; Entry level: 2; Unit located on level 2; 3 stories in building; 1 story unit
• Construction: Block construction; Resale property
• Exterior features: Balcony; Screened balcony; Storm/security shutters; Exterior lighting; Smoke detector(s)

Interior

• Kitchen: Microwave; Refrigerator
• Bedrooms: Bedroom located on the main level
• Flooring: Hardwood; Tile; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Blinds; Furnishing negotiable; Bedroom on main level
• Laundry & utility: Common area laundry; Washer hookup; Dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $325k.

Deal economics

• At list price, monthly cash flow is $412 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $325k).
• Recommended offer: $306k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#217 in FL, #3,392 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A+, employment A; Watch: schools C-, amenities F, cost of living F.
• Miami-Dade (suburban): math 45% / reading 54% proficiency, ranked #40 of 73 in FL (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-1.3%/yr); 522 active listings in the ZIP; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $4,611/mo this rent would consume 62% of the median local household income ($90k/yr) (locally 774% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $22k of equity ($2k loan paydown + $20k appreciation (6.1% local appreciation)).
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (6.1% appreciation + 0.0% rent growth), your $91k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($306k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $305,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.42% ✓
• Cap rate: 9.39%
• Cash-on-cash: 11.06%
• DSCR: 1.49
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.12% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 18.3%
• Equity multiple: 2.20×
• Total profit: $109,652
• Equity at exit: $206,862

10-year hold

• IRR: 16.4%
• Equity multiple: 4.06×
• Total profit: $278,452
• Equity at exit: $377,357

Cash invested: $91,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 33154

• Home prices YoY: 1.4%
• Rents YoY: -1.3%
• Active inventory: 522
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $4,611 medium
• Mortgage (P&I): −$1,704
• Tax est. 1.5%: −$406 /mo · $4,875/yr
• Insurance: −$135
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$558
• Vacancy / Maint / Mgmt: −$968
• Net cashflow: $412

Break-even live

Break-even rent $4,089

Max offer price $325,000

Occupancy floor 86%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $558 · $6,696/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-06-01
   days on market $325,000 Active 63 DOM
2. 2026-05-31
   days on market $325,000 Active 62 DOM
3. 2026-03-31
   price $325,000
4. 2026-03-24
   listed $275,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 28 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $55,333
• − Mortgage interest: −$18,205
• − Property taxes: −$4,875
• − Insurance: −$6,744
• − Repairs & maintenance: −$4,427
• − Management: −$4,427
• − HOA: −$6,696
• − Depreciation: −$9,455
• Taxable income: $506
• Est. tax owed @ 24.0%: −$121
• After-tax cash flow: $4,825/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Miami-Dade
• NCES district ID: 1200390
• Math proficiency: 45% ▼ -16.00%
• Reading proficiency: 54% ▼ -5.00%
• Median HH income: $43,928
• Composite: 41.76/100
• National rank: #3397
• State rank: #40 of 73 in FL

Livability — Bal Harbour

• Score: 76/100
• State rank: #217
• US rank: #3392

Category grades

Amenities F Commute A- Cost of living F Crime A+ Employment A Housing B Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bal Harbour, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 14,572
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 14,572
• Household income: $89,563
• Rent vs Own: 39.8% rent · 60.2% own
• Severe rent burden: 774.0

Population outlook (Miami-Dade County) Hauer SSP2

• Today (2025): 3,126,439 people
• By 2030: 3,325,765 · +6.4%
• By 2040: 3,697,561 · +18.3%
• By 2050: 4,012,134 · +28.3%
• By 2075: 4,605,612 · +47.3%
• By 2100: 4,866,598 · +55.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (53%)
• Race & ethnicity: White 53% Hispanic / Latino 41% Two or more races 25% Black 2%
• Hispanic origin (detail): Puerto Rican 2% Cuban 12% Salvadoran 2%
• Common ancestry: Scotch-Irish 7% Romanian 5% Lithuanian 4%
• Foreign-born: 46% · Canada, Jamaica, Dominican Republic
• Languages at home: 36% English-only · Spanish 41% French/Haitian/Cajun 7% Other Indo-European 5%

Political lean MEDSL · Miami-Dade

• 2024 margin: R (+11.4) · D 43.9% · R 55.4%
• 2008→2024 swing: -27.6pp toward R · 2008: 16.1pp · 2024: -11.4pp
• All cycles: 2024: R+11.4 2020: D+7.3 2016: D+29.6 2012: D+23.7 2008: D+16.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.12%
• Current HPI: 454.1747
• Rent YoY: ▼ -1.30%
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+18.2% since first listed

2 events — show timeline

• 2026-03-31 Price Changed $325,000 MARMLS
• 2026-03-24 Listed $275,000 MARMLS

Property tax history

+2.4%/yr

Latest (2025): $577 · +4.9% YoY. Source: county tax records.